Economic survey conceals dark realities : Ramadass

31/01/2018

"During the period April-September 2017-18, growth in services exports and services imports were robust at 16.2% and 17.4%, respectively, said the Survey tabled in the Parliament on Monday by Finance Minister Arun Jaitley".

"Therefore, adjusting the base for double and triple counting, the GST has increased the number of unique indirect taxpayers by more than 50 percent -a substantial 3.4 million", it said. Since agriculture is a state subject, the survey also strongly advocated a mechanism similar to the GST Council to bring more reforms in the agricul-ture sector and boost farmers' income.

The Economic Survey on Monday said climate change could reduce annual farm income by up to 20-25% in "unirrigated" areas in the country and called for urgent expansion of irrigation networks as a crucial adaptation measure to ward off the challenges of extreme weather events.

The survey underlined that the economy began to accelerate in the second half of the year and can clock 6.75 percent growth this fiscal due to the launch of transformational Goods and Services Tax reform July 1, 2017, and the new Indian Bankruptcy Code, which resolves the long-festering Twin Balance Sheet issue by now sending major stressed companies for resolution under the new code.

However, the economy is projected to grow at 7-7.5 per cent in 2018-19, making it the fastest growing economy in the world again.

The World Report has made a candid but shocking revelation that 73 per cent of India's wealth is concentrated in the hands of 1 per cent of millionaires and billionaires of the country and that out of every 3 poverty stricken persons of the world one is an Indian.

The agricultural growth could be 2.1 per cent for financial year 2018.

The slowdown was blamed on the sudden cancellation of 86 percent of India's currency at the end of 2016 and the chaotic implementation of a single goods and services tax previous year.

The survey cautioned that certain factors could dampen GDP growth in the coming year, such as the possibility of an increase in crude oil prices in the worldwide market.

The document has also thrown up some interesting findings on India's export sector.

Similarly, for the first time, the Survey did a firm-level analysis on exports and found that export concentration by firms was much lower in India than in the U.S., Germany, Brazil, or Mexico - meaning that India had no "exports superstars" and that its export structure was "egalitarian" in nature.

Related News:

She celebrated the fact that instead of just quietly changing the logo, Major League Baseball said it was inappropriate to use. Dolan's acknowledgement that removing it from the on-field uniform by the start of the 2019 season is the right course".

His decision to live overseas , mainly in Switzerland , to avoid Sweden's high income taxes was also widely criticised. Employees prepare pictures for a display featuring Ingvar Kamprad at the IKEA museum, in Almhult, Sweden .

Are you still shaking your head over this one? "We know that, and we're going to go out and have fun against Brady". The Philadelphia Eagles swear they won't fall into that trap if they have the chance in Super Bowl 52.

Phone GPS coordinates aren't terribly accurate but collect enough data points and you can assemble a map of anything, eventually. The issue was first raised by Nathan Ruser , a 20-year-old global security student at the Australian National University.

The endorsement was in recognition of his personal commitment and widely acclaimed anti-graft drive at the domestic level. The chairman of the African Union Commission said Thursday that the continent's leaders can not stay silent after U.S.

The inaugural flight will blast off from Apollo launchpad 39A at the John F Kennedy Space Center (KSC), Meritt Island, Florida. The demonstration flight of Falcon Heavy will carry a dummy payload, although a simple weight is too boring for Musk.

McKnight went on to play at the University of Southern California before being drafted in 2010 by NY , where he played until 2012. Gasser's defense team claimed McKnight aggressively pursued Gasser, but witness testimony disputed such a claim.

Pakistan thus levelled the series 1-1 after the hosts won the first match by seven wickets at the Westpac Stadium in Wellington. Ross Taylor (24) and Santner (24*) also chipped in with their cameos but Pakistan were not to be denied a much-needed victory.

He will visit Monday a Toyota plant in northern France before heading to the evening business event at the chateau of Versailles. Macron's " Make Our Planet Great Again " program casts environmental protection as a pillar in reforming the country's economy.

So Luiz is hopeful another manager will come in in the summer and give him more game time as he starts football life in his 30's. Wembley Stadium will host the 57th instalment of the League Cup final, which kicks off at 4.30pm on Sunday 25 January.

Dominates to GTLM Victory in Rolex 24
The No. 5 Action Express Cadillac DPi with Felipe Albuquerque at the wheel, took the checkered flag in the Rolex 24 on Sunday. Corvette finished third and fourth, albeit a lap adrift of the Fords, as the Risi Competizione Ferrari squad claimed fifth.

Five people dead in Pennsylvania shooting
Three of the victims fatally shot were men while two others were women, ABC News affiliate station WTAE in Pittsburgh reported . Family members say a domestic dispute spurred the shooting deaths of five people at a Pennsylvania auto wash.

Early Australia Day fireworks set up win
Earlier, the two sides played the first ever day-and-night Test in the same ground which Australia went on to win on the last day. So he's as surprised as anyone to have played in all five Tests and three of the four one-dayers against England .